Brazilian exports to Arab countries climb 8% to $10.61b in seven months

The Arab Brazilian Chamber of Commerce (ABCC) recorded a surge of 8 per cent in Brazilian exports to the Arab world during the first seven months of 2023, totalling to $10.61 billion, compared to $9.825 billion in the same period in 2022.

Brazilian exports to the Kingdom of Saudi Arabia (KSA) totalled to $1.873 billion in the first seven months of 2023, while exports to to the United Arab Emirates amounted to $1.646 billion.

Brazilian exports to Qatar stood at $155.91 million during the same period. Kuwait also witnessed an increase in the Brazilian exports, which amounted to $157.78 million during the first seven months of 2023, while the exports to Egypt totalled to $1.163 billion in the same period.

ABCC reports stated that poultry and bovine animal meat, ores, slag, sugars, cereals, oil seeds and soya beans, natural or cultured pearls, precious metals, jewellery, coffee, tea and spices were the top exported products to the Arab nations.

Osmar Chohfi, President of ABCC, said: “The ABCC plays an essential role in strengthening the ties between Brazil and the Arab world. These positive figures indicate the strong and expanding trade relations between both sides. Through our various strategic initiatives and dedicated efforts, the chamber has significantly contributed to increasing Brazilian exports to the Arab region. The consistent growth in Brazilian exports to the Arab countries further underscores the unwavering commitment of both regions to foster mutually beneficial economic ties.

This thriving trade relationship reinforces the Arab world’s position as a pivotal partner in Brazil’s global trade network.” He added: “We remain committed to fostering mutual understanding, expanding market access for Brazilian products as well as strengthening collaboration between these two dynamic and diverse regions. By facilitating trade, promoting investment opportunities and encouraging cultural exchanges, we strive to boost bilateral trade relations and economic cooperation between the Arab countries and Brazil.”

Brazilian imports from the Arab countries further reached $6.114 billion in the first seven months of 2023, as opposed to the figures recorded in the same period previous year. According to ABCC reports, imports from the KSA stood at $1.986 billion during the first seven months of this year, while imports from Qatar amounted to $408.50 million during the same period. Meanwhile, imports from Kuwait reached $188.18 million, while Egypt accounted for imports worth $275.45 million. Imports from the UAE reached $722.07 million between January and July 2023.

The top imported products from the Arab countries to Brazil were mineral fuels, fertilizers, aluminium, plastics, inorganic chemicals, precious metals, salt, sulfur, stones, organic chemicals, fish, cast iron, iron, and steel.

Separately, Dr Thani Bin Ahmed Al Zeyoudi, UAE Minister of State for Foreign Trade, has concluded recently a visit to Brazil during which he met trade, agriculture and tourism ministers as the two nations pursue stronger economic ties and explore investment opportunities in priority sectors. With non-oil bilateral trade reaching $4.3 billion in 2022, a growth of 32 percent on 2021, Brazil is currently the UAE’s biggest trading partner in Latin America, and second only to the United States in the whole of the Americas.

In Rio de Janiero, Dr Thani, accompanied by Saleh Ahmad Salem Alzaraim Alsuwaidi, UAE Ambassador to the Federative Republic of Brazil, attended the launch of President Lula’s da Silva’s PAC, or Growth Acceleration Program. The $347.5 billion national investment initiative will leverage public-private partnerships to support energy, logistics and urban infrastructure projects – and, importantly, restate the nation’s commitment to its environmental responsibilities. The wide-reaching program not only underlines the scope of the nation’s economic ambitions but presents a number of significant opportunities for UAE investors; the UAE already has in excess of $5 billion committed to the country, predominantly focused on the sectors outlined in the PAC initiative.

Dr Thani’s participation in the event follows the state visit by President da Silva to Abu Dhabi in April, when he was received by His Highness Sheikh Mohamed Bin Zayed Al Nahyan, President of the UAE, and discussed collaboration in technology, science and innovation, and the advancement of their respective sustainable development goals.

In the nation’s capital Brasilia, Dr Thani then held a series of meetings with government ministers and senior officials. They included in-depth talks with Foreign Commerce Secretary Tatiana Prazeres, in which they reviewed bilateral trade volumes and explored ways to strengthen supply chains, and discussions with Minister of Tourism Celso Sabino on FDI opportunities in the sector and strategies for increasing visitor flows in both directions.

His Excellency also met Carlos Fávaro, Minister of Agriculture, reciprocating his visit to Dubai earlier in the month, and Suemi Mori, Deputy Chief of International Relations at the National Confederation of Agriculture, and Felipe Luis, its Commercial Intelligence Coordinator. The UAE is one of the principal destinations in the MENA region for Brazil’s agricultural exports, in particular sugar, poultry, beef and maize, and the talks centered on development of value chains and sustainable production systems.